Growing Returns

Selected tag(s): venture capital

Technology investors are discovering a new and largely untapped market: farmers in heartland America eager to fly drones, employ robots and crunch big data to boost their business.

In 2017, tech startups in the agriculture sphere raised $670 million to develop software management, big data analytics, automated equipment and other cutting-edge tools that help farmers grow crops with scientific precision, AgFunder reported. Agriculture is one of the last major sectors to experience the digital revolution and it’s a market ripe for growth.

New technology allows farmers to manage their fields down to the square foot – tracking plant health, soil moisture and estimated profit in real-time. That requires advanced software, sensors and state-of-the-art imaging technology.

Precision agriculture could account for 80 percent of civilian drone use by 2020.